Home Depot Swot Analysis Essay
Part Two-Business Strategy
Home Depot’s mission statement can be summed up in these eight core values
• Excellent customer service
• Taking care of our people
• Giving back
• Doing the “right” thing
• Creating shareholder value
• Respect for all people
• Entrepreneurial spirit
• Building strong relationships
The founder of The Home Depot had this for his vision statement back in 1976 when their first store was opened in Atlanta, Georgia: “a vision of warehouse stores filled with a wide assortment of products at the lowest prices with trained associates giving absolutely the best customer service in the industry.”
I believe that The Home Depot is living up to this vision, they are still one of the number one hardware stores in the nation and are still working to keep a competitive edge in …show more content…
I would like to make a comparison between two most growing companies in the USA (Home Depot and Wal-Mart) .In 2002, Home Depot spent 32 percent more than Wal-Mart Stores Inc., the world's largest retailer. Wal-Mart with annual sales almost five times higher than Home Depot's spent $676 million on advertising last year. (Jim Lovel. Home Depot ad spending $895M. Retrieved April 25, 2003, from http://www.bizjournals.com/atlanta/stories/2003/04/28/story1.html). Therefore, the more money you spend on advertising, does not lead to increase in annual sales but it leads to increase in expenses. Even though, the extensive advertising made this company have a distinctive competency against other companies but Home Depot spent $ 895 million on advertising and Lowe's company spend only $114 million. It is true that the annual sales of Home Depot were more than half than Lowe's but Home Depot can lower its expenses of advertising to 5 times and can still be able to compete with Lowe's
Home Depot’s mission statement can be summed up in these eight core values
• Excellent customer service
• Taking care of our people
• Giving back
• Doing the “right” thing
• Creating shareholder value
• Respect for all people
• Entrepreneurial spirit
• Building strong relationships
The founder of The Home Depot had this for his vision statement back in 1976 when their first store was opened in Atlanta, Georgia: “a vision of warehouse stores filled with a wide assortment of products at the lowest prices with trained associates giving absolutely the best customer service in the industry.”
I believe that The Home Depot is living up to this vision, they are still one of the number one hardware stores in the nation and are still working to keep a competitive edge in …show more content…
I would like to make a comparison between two most growing companies in the USA (Home Depot and Wal-Mart) .In 2002, Home Depot spent 32 percent more than Wal-Mart Stores Inc., the world's largest retailer. Wal-Mart with annual sales almost five times higher than Home Depot's spent $676 million on advertising last year. (Jim Lovel. Home Depot ad spending $895M. Retrieved April 25, 2003, from http://www.bizjournals.com/atlanta/stories/2003/04/28/story1.html). Therefore, the more money you spend on advertising, does not lead to increase in annual sales but it leads to increase in expenses. Even though, the extensive advertising made this company have a distinctive competency against other companies but Home Depot spent $ 895 million on advertising and Lowe's company spend only $114 million. It is true that the annual sales of Home Depot were more than half than Lowe's but Home Depot can lower its expenses of advertising to 5 times and can still be able to compete with Lowe's